Cancel sale agreement
Deep Banarjee
(Querist) 11 March 2012
This query is : Resolved
Dear sir,
I made an agreement with 30% advance on Stamp paper of Rs 10 with the current owner (seller) of a plot of land to purchase that plot.
At the time of measurement we found that one portion (1”/ 2”) of that land occupied by other property owner and the seller of that plot is telling that this will not create any problem. In this situation I am ready to buy that plot but I have already given advance and made agreement.
And in that agreement there is two clauses that 1.seller has to satisfy me practically and 2. within 45 days if I not buy that land the seller can sell that property to other and he will charge me Rs 10000 and return my advance money.
Now my query is, is there any legal process to cancel that agreement? And is there any surety that after cancel that agreement the seller will return the money? If he refuse to return or hesitate to return the money can I take any action against him?
Please advice briefly …
Thanks & Regards
Adv.R.P.Chugh
(Expert) 11 March 2012
Mr.Dipan,
You would be within your right to rescind the contract (avoid the contract in simple parlance) by giving him a notice and then suing him u/s 27 SRA, you have the right to recover back your money alongwith damages, as your consent is vitiated on account of misrepresentation.
Deep Banarjee
(Querist) 11 March 2012
Dear Sir,
Then what wiil be the process ? should I give just formal notice or any legal notice by any advocate? and should I wait for the completion of 45 days or give the notice now ?
Adv.R.P.Chugh
(Expert) 11 March 2012
Within 45 days. It's better to consult a lawyer, any loose statement might hurt you real bad at a later point of time
Raj Kumar Makkad
(Expert) 11 March 2012
#Bharat! We all are also lawyers and querist is availing the opinion of all of us ehere with full hope of better advice.
Dipan! Practically if you have mind to purchase then go ahead and deduct the amount of the area under possession of the neighbour and if you really want to rescind the contract on some other reasons then you can take this as an issue but it be cleared to you that generally court proceedings take a long time say 3-4 years to get decision. You shall have to wait for your money till that period,
ESTHERPRIYA
(Expert) 12 March 2012
You can better cancell the agreement stating these reasons and can ask for refund of the money unilaterally before that can have a word with that person to amicably settle down the issue.
Guest
(Expert) 13 March 2012
Dear Dipan,
First of all you are required to decide whether you prefer to buy the property or want refund.
If you want refund, advice of the experts would suit you well. BUT, if you want to buy that property, just ask the seller to record only the actual measurement of the property on the sale deed with you, rather than what has already been written on existing property papers. You can pay the balance on prorata basis according to the actual measurement.
